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Tech Talk for Tuesday November 15th 2016

 

Observations

The “Trump Rotation” in U.S. equity markets continue: Financials, Industrials and Consumer Discretionary stocks and related ETFs moved higher while utilities and consumer staples stocks and ETFs moved lower.

The U.S. Dollar Index spiked higher yesterday and is approaching the top of its two year trading range.

Strength in the U.S. Dollar Index is having a significant impact on the value of investment assets priced in U.S. Dollars: Two examples, the DAX Index versus German iShares in U.S. Dollars and the Shanghai Composite Index versus China large cap iShares in U.S. Dollars

 

StockTwits Released Yesterday

Gold and silver breaking neckline support of Head & Shoulders topping pattern.

Technical action by S&P 500 stocks to 10:00 AM: Bullish. Breakouts: $CMCSA, $DLTR, $HAR, $ALL, $ABC, $UNP, $UTX. Breakdown: $T

Editor’s Note: After 10:00 AM EST, breakouts: WRK, BBBY, LMT, CMCSA, TGNA, DISCA, DISCK, LLL and SLG. Breakdowns: MDLZ,AIV,SYK,V,EQR,PYPLBCR,BDX,ALB and COO

Union Pacific $UNP moved above $98.83 extending intermediate uptrend.

‘Tis the season for strength in Union Pacific $UNP to early January.

Midcap SPDRs $MDY moved above $287.25 to all time high extending intermediate uptrend.

Bank of Montreal $BMO.CA moved above $87.05 to all-time high extending intermediate uptrend.

‘Tis the season for strength in Bank of Montreal $BMO.CA until the end of November.

Russell 2000 Index moved above 1,296.00 to all-time high extending intermediate uptrend. Also its ETF: $IWM

Lockheed Martin $LMT moved above $265.13 to an all-time high extending an intermediate uptrend.

‘Tis the season for strength in Aerospace/Defense sector to early January! $LMT $BA $ITA $PPA

 

Trader’s Corner

Daily Seasonal/Technical Equity Trends for November 14th 2016

Green: Increase from previous day

Red: Decrease from previous day

 

Daily Seasonal/Technical Commodities Trends for November 14th 2016

Green: Increase from previous day

Red: Decrease from previous day

 

Daily Seasonal/Technical Sector Trends for November 14th 2016

Green: Increase from previous day

Red: Decrease from previous day

 

S&P 500 Momentum Barometer

The Barometer slipped 2.60 (4.61%) to 53.80 yesterday. It remained intermediate neutral with an uptrend.

 

TSX Momentum Barometer

The Barometer dropped 4.17 (11.36%) to 32.50 yesterday. It remained intermediate oversold, but continues to show signs of a bottom.

 

Disclaimer: Seasonality and technical ratings offered in this report by www.timingthemarket.ca and www.equityclock.com are for information only. They should not be considered as advice to purchase or to sell mentioned securities. Data offered in this report is believed to be accurate, but is not guaranteed